The NESSENTIALS

Given that I don’t run a business (yet?), the start of a new financial year is ordinarily not something to blog about. However, it’s pandemic times, so of course everything is different!

It has not been an easy year for anyone, unless there’s someone who enjoys being a lonesome shut-in, and even those might have had a tough time finding toilet roll at the beginning of the ‘situation’ to their chagrin. My heart goes out to anyone unemployed, or furloughed and struggling with that situation. Hopefully there’s solace in the UK easing restrictions and that leading to you going back to work or finding a job.

I’ve been lucky – I’ve been in work, and have been working from home all this time. Because of this the change in financial years means I can renew my claim for tax relief for working from home (known as claiming a P87). My employer doesn’t already provide relief in my salary (I hear this is depending on how contracts are written – as mine doesn’t specify that my position is for someone working from home) and I’ve already worked at least one day from home since 5 April 2021.

As I haven’t incurred any further costs, like equipment to work from home, it was really quick to breeze through the form. I found that ATT has a reasonably decipherable guide on the different scenarios otherwise, when I became curious and researched.

Last year it led to my tax code changing (it changed to 1287L from 1250L after I claimed for the tax relief), so I’m not surprised if that happens again, as this seems to be the best way for HMRC to give me the right amount of money, rather than a lump sum.

This might not line my pockets with gold, but given that pub season is around the corner at least my first pint can be on the government – cheers!

Leave a comment if you’ve claimed your tax relief yet – or if there’s another reason you’re glad it’s the new financial year!